Morgan Stanley · NYSE:MS
Morgan Stanley — Q3 2009 Earnings Presentation
10 slides from Morgan Stanley's earnings presentation, Nov 12, 2009
Slide 1: Morgan Stanley Third Quarter 2009 Overview
Free Writing Prospectus Dated November 12, 2009 Registration Statement No. 333-156423 Filed Pursuant to Rule 433 Morgan Stanley Third Quarter 2009 Overview November 2009
Slide 2: Notice
Notice The information provided herein may include certain non-GAAP financial measures. The reconciliation of such measures to the comparable GAAP figures are included in the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2008, 2009 Quarterly Reports on Form 10-Q and 200
Slide 3: Index
Index Consolidated Financial Highlights Institutional Securities Asset Management Global Wealth Management Group Firmwide Real Estate Investments Strong Capital Position Funding Diversification 3 This slide is part of a presentation by Morgan Stanley and is intended to be viewed as par
Slide 4: Consolidated Financial Highlights
Consolidated Financial Highlights (2) 3Q09 Highlights 3Q09 Net Revenues of $8.7 Bn Business Mix 3Q09 Net Revenues ($Bn) 8.7 Asset Management PBT ($Bn) 1.2 Equities 8% 12% Net Income ($Bn) 0.76 Diluted EPS from Continuing Operations ($) 0.38 Global Wealth 35% Management 31% Fixed Adjustment from Debt
Slide 5: Institutional Securities
Institutional Securities Net Revenue ($MM) 3Q 2009 Highlights 11,082 Investment Banking delivered strong results 268 Ranked # 1 in Global Announced and 3,485 Completed M&A # 1 in Global IPOs $1.0 billion in revenues up 28% vs. 1Q09 4,974 Delivered strong Net Revenues in Investment 128 9,02
Slide 6: Asset Management
Asset Management Net Revenue 3Q 2009 Highlights ($MM) Core business(2) – net revenues of $600 million, up from $308 million in 3Q08 Announced agreement to sell retail asset management 1,246 business to Invesco Ltd. 422 Stock and cash transaction valued at approximately $1.5 billion Morgan St
Slide 7: Global Wealth Management Group
Global Wealth Management Group Net Revenue 3Q 2009 Highlights ($MM) 6,887 Solid Performance with 11% PBT margin (ex- joint venture integration costs) 911 $110 billion - JV Bank Deposit program 559 $52 billion is held at MS banks 1,387 Total Firm-wide Deposits up to $62 billion 1,379 3,029
Slide 8: Firmwide Real Estate Investments
Firmwide Real Estate Investments (2) Total Real Estate Investments of $6.0bn Infrastructure Fund Crescent and Other Consolidated Interests Real Estate Funds (3) represents the assets of consolidated subsidiaries, certain of which are subject $0.2 Commitments, to non-recourse debt of $2.5 billion $
Slide 9: Strong Capital Position
Strong Capital Position Total Assets 3Q09 Key Capital Ratios (Basel I) ($Bn) 943 Tier 1 Capital Ratio 15.4% 770 677 677 626 Tier 1 Common Ratio (1) 8.2% Tangible Common Equity to Risk Weighted Assets (2) 9.6% 3Q 2008 4Q 2008 1Q 2009 2Q 2009 3Q 2009 Source: SEC Filings and estimates from 10-Q (1) The
Slide 10: Funding Diversification
Funding Diversification Composition of Funding Liabilities and Equity Shareholders’ Equity Shareholders’ Deposits Equity 5% 5% 9% Long-term Debt Long-term Debt 32% 40% Deposits 13% 52% 6% 1% Secured Commercial Paper & other short term 37% Commercial Paper Funding borrowings & other short term Secure